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FINANCIAL NEWS
Saudi’s Fawaz Alhokair Co net profit up 7.7 percent in Q3
21 Oct 2014
(MENAFN) Fawaz Abdulaziz Alhokair Co, the Saudi Arabia retailer, reported that its profits increased by 7.7 percent in the July-September period due to an increase in sales increased, Gulf Business reported.
The company registered a net profit of USD81.0 million during the third quarter of this year, which is an increase in comparison with USD75.18 million registered during the corresponding period last year.
Alhokair attributed its increase in its quarterly profit to increasing sales as well as quarterly turnover, which was up by 32 percent to reach USD551.75 million.
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